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A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. [1]
Sole proprietorship. Limited Liability Corporation (LLC) C-Corporation or corporation. S-Corporation. Partnership. Each business entity has advantages, drawbacks, and tax implications to consider ...
obrt: ≈ sole proprietorship; several types: slobodni obrt (free proprietorship), vezani obrt (tied proprietorship), and povlašteni obrt (privileged proprietorship) registered according to profession where tied and privileged types are reserved only for master craftsmen): paušalni obrt (flat-rate proprietorship), obrt-dohodaš (income tax ...
“For example, in a sole proprietorship, you will pay self-employment taxes (Social Security and Medicare) on the entire net income, which can be high if the business is profitable,” said John ...
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. [1]
Both LLCs and corporations have liability protections for owners. Many businesses that start as a sole proprietorship reach a point where it makes sense to graduate to a more complex business ...
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